The Board of Directors of NBT Bancorp approved a second-quarter 2018 cash dividend of $0.25 per share at a meeting held today March 26, 2018. The dividend, which represents a $0.02 or 8.7% increase, will be paid on June 15, 2018 to shareholders of record as of June 1, 2018. NBT President and Chief Executive Officer John H. Watt, Jr. said, "NBT has a long and consistent history of returning capital to our shareholders in the form of cash dividends. We're pleased to provide shareholders with this increase to our dividend which will be NBT's 505th dividend in our 162-year history."
The Board of Directors of Columbus McKinnon, a leading designer, manufacturer and marketer of motion control products, technologies and services for material handling, today declared a $0.05 per common share cash dividend, up $0.01 per common share from its previous quarterly dividend rate of $0.04. The dividend will be payable on or about May 14, 2018 to shareholders of record at the close of business on May 4, 2018. Columbus McKinnon has approximately 23.0 million shares of common stock outstanding.
Hormel Foods, a multinational marketer of consumer-branded food and meat products, announced today that its quarterly dividend on the common stock, authorized by the Board of Directors at eighteen and three quarter cents a share on March 26, 2018, will be paid May 15, 2018, to stockholders of record at the close of business on April 16, 2018. The May 15 payment will be the 359th consecutive quarterly dividend paid by the company. Since becoming a public company in 1928, Hormel Foods Corporation has paid a regular quarterly dividend without interruption.
Mackinac Financial, the bank holding company for mBank, announced the approval of a cash dividend by its Board of Directors on March 27, 2018. The Board of Directors declared a cash dividend of $.12 per common share, payable April 18, 2018 to shareholders of record at April 10, 2018. The dividend is unchanged from the prior quarter's dividend.
U.S. Global Investors, a boutique registered investment advisory firm with longstanding experience in global markets and specialized sectors, will continue its payment of monthly dividends in the fourth fiscal quarter of 2018. The company's board of directors approved payment of the $0.0025 per share per month dividend beginning in April 2018 and continuing through June 2018. The record dates are April 16, May 15 and June 11, and the payment dates will be April 30, May 29 and June 25. At the end of this period, the company will have paid monthly dividends for more than 10 years. At the March 23, 2018, closing price of $2.60, the $0.0025 monthly dividend equals a 1.15 percent yield on an annualized basis.